Question

After reading both articles, what is one way credit card companies make money?(1 point) Responses By selling credit cards in stores By selling credit cards in stores By charging fees when customers don’t pay back borrowed money By charging fees when customers don’t pay back borrowed money By offering rewards points to customers By offering rewards points to customers By giving away free credit card machines By giving away free credit card machines Question 2 According to the article "A Big Credit Card Buy," why might Elizabeth Warren be concerned about the deal between Capital One and Discover?(1 point) Responses She believes it could harm competition and lead to higher fees for customers. She believes it could harm competition and lead to higher fees for customers. She thinks Discover has too many customers for Capital One to handle. She thinks Discover has too many customers for Capital One to handle. She is worried about the companies not having enough money for the deal. She is worried about the companies not having enough money for the deal. She believes the deal will increase competition and harm smaller companies. She believes the deal will increase competition and harm smaller companies. Question 3 In the article "All About Credit Cards," how does Matt Schulz's advice about using credit cards demonstrate responsible financial habits?(1 point) Responses He encourages avoiding credit cards entirely to stay out of debt. He encourages avoiding credit cards entirely to stay out of debt. He suggests learning how credit cards work before getting one and paying off debt quickly if it occurs. He suggests learning how credit cards work before getting one and paying off debt quickly if it occurs. He recommends using credit cards for expensive purchases only. He recommends using credit cards for expensive purchases only. He advises borrowing as much as possible to build good credit quickly. He advises borrowing as much as possible to build good credit quickly. Question 4 Which of the following statements is a key message shared in both articles?(1 point) Responses Credit cards can be very helpful when used correctly, but they can lead to serious financial problems if not managed properly Credit cards can be very helpful when used correctly, but they can lead to serious financial problems if not managed properly Credit card companies should not be allowed to charge interest on unpaid balances Credit card companies should not be allowed to charge interest on unpaid balances Credit cards are only useful for in-person shopping Credit cards are only useful for in-person shopping Credit card deals will always be approved by U.S. officials without concern for consumers Credit card deals will always be approved by U.S. officials without concern for consumers Question 5 Which of the following is a common concern expressed in both articles?(1 point) Responses Credit cards are always beneficial and easy to use Credit cards are always beneficial and easy to use Not paying back credit card debt can lead to high fees Not paying back credit card debt can lead to high fees Credit cards are only used in stores, not online Credit cards are only used in stores, not online The U.S. government is planning to regulate credit card companies The U.S. government is planning to regulate credit card companies Question 6 Use the bar graph below from the myOn article, A Big Credit Card Buy! to answer the following question: What is the combined total of Purchases made by customers of both Capital One and Discover credit card companies in 2022 (1 point) Responses 534.5 Billion Dollars 534.5 Billion Dollars 323.8 Billion dollars 323.8 Billion dollars 745.2 Billion Dollars 745.2 Billion Dollars 210.7 Billion Dollars 210.7 Billion Dollars Question 7 Using what you've previously learned in Live Lesson regarding credit cards and loans, which of the following is a key difference between using a credit card and getting a loan?(1 point) Responses With a credit card, you should pay the full amount back all at once, while a loan repayment is created for you to pay back smaller amounts over time. With a credit card, you should pay the full amount back all at once, while a loan repayment is created for you to pay back smaller amounts over time. A credit card gives you money upfront to spend on purchases, while a loan gives you a card to make purchases. A credit card gives you money upfront to spend on purchases, while a loan gives you a card to make purchases. Credit cards usually have a fixed amount of money you can borrow, while loans let you borrow as much as you want. Credit cards usually have a fixed amount of money you can borrow, while loans let you borrow as much as you want. Loans are used for small purchases, like a pair of shoes; while credit cards are used for large purchases, like a car.

Answer 1

Here are the answers to your questions based on the information provided:

1. One way credit card companies make money?

   • By charging fees when customers don’t pay back borrowed money.

2. Why might Elizabeth Warren be concerned about the deal between Capital One and Discover?

   • She believes it could harm competition and lead to higher fees for customers.

3. How does Matt Schulz's advice about using credit cards demonstrate responsible financial habits?

   • He suggests learning how credit cards work before getting one and paying off debt quickly if it occurs.

4. What is a key message shared in both articles?

   • Credit cards can be very helpful when used correctly, but they can lead to serious financial problems if not managed properly.

5. What is a common concern expressed in both articles?

   • Not paying back credit card debt can lead to high fees.

6. Combined total of purchases made by customers of both Capital One and Discover credit card companies in 2022?

   • 534.5 Billion Dollars.

7. Key difference between using a credit card and getting a loan?

   • With a credit card, you should pay the full amount back all at once, while a loan repayment is created for you to pay back smaller amounts over time.

Let me know if you need further assistance!

Answer 2

Number 6 is wrong

Answer 3

I apologize for the confusion. Without access to the specific bar graph from the article "A Big Credit Card Buy!" I can’t confirm the numbers directly. If you have the options available to you or if you can provide more context or information from the graph, I can help deduce the correct answer.

Please feel free to share the details or give further context so we can find the right answer for question 6!